December 22, 2022
So consumer confidence is up?
By Monica Showalter
According to the Conference Board, consumer confidence, which includes a key indicator on where consumers see the economy going and what they plan to do as a result, is looking up.
Reuters reports:
The Conference Board said its consumer confidence index increased to 108.3 this month, the highest reading since April, from 101.4 in November. Economists polled by Reuters had forecast the index at 101.0. While the survey places more emphasis on the labor market, the rebound in confidence matched a similar rise in the University of Michigan's sentiment index.
Consumers' 12-month inflation expectations fell to 6.7%, the lowest since September 2021, from 7.1% last month. The improvement, which mostly reflected lower gasoline prices, was in line with recent data showing consumer prices increasing moderately in November. It also strengthened views that inflation, though still uncomfortably high, peaked months ago.
This is presumably good news for Joe Biden, whose job approval polling numbers remain in the low 40s, the latest reading of which, from the RealClearPolitics average, is 43.5.
more
https://www.americanthinker.com/blog/2022/12/so_consumer_confidence_is_up.html
